Italy stocks drop 2% at open amid political crisis
Arab Today
Italy's stocks slid at opening on Monday, shedding more than two percent amid the latest political crisis caused by former prime minister Silvio Berlusconi. The FTSE Mib in Milan dropped 2.09 percent to 17,278 points. Banks were the hardest hit, with some shedding as much as five percent. The political turmoil flared when Berlusconi announced at the weekend that he was pulling his party's ministers ouf of the cabinet led by Prime Minister Enrico Letta. Letta is due to go to parliament on Wednesday for a confidence vote.
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